Axis Bank Share Price Prediction 8th Feb 2016
Axis Bank share price trend has shown some signs of bottom formation taking place and Axis Bank Share price has a time cycle support from around 15th-21st Feb 2016 post 21st Feb 2016 one can consider averaging Axis Bank on lower side between 361-375 and then hold it. please note this trade is only suggested to people who are currently stuck in Axis Bank due to positional long positions or trading long positions. We do not recommend any fresh longs for traders and investors in the counter as the overall chart pattern is not at all encouraging in fact this is one of the weakest stock in the Nifty so we do not expect this counter to provide any major out performance rather we feel it could under perform. The share price has been making consistent classic lower tops and lower bottoms in all time frames and as most of my clients and and regular readers of this website we well aware that whenever we get such a chart / structure we must totally avoid the stock.
Axis Bank share price trend in the short term as per our analysis will remain weak as the Minor trend is down / bearish and Major trend is neutral / flat. Hence we can expect the stock price to bounce from 361-375 Nse spot levels mentioned and then move towards a target price of 465. (If you are trading only on the basis of this post kindly use appropriate risk management systems and then only trade. When to buy, where to buy how much to buy all details will be given to our clients live during Indian Stock market hours)
Good Trading To You!